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NEWS
August 9, 2011
Fuel refiner and seller Sunoco Inc., of Philadelphia, said it will repurchase up to $500 million of its outstanding common stock. Chief executive Lynn L. Elsenhans called the move an "appropriate and strategic use of the company's cash while still allowing the flexibility to continue pursuing growth in our retail and logistics businesses. " Shares closed up $1.17, or 3.91 percent, to $31.11. As of June 30, Sunoco had approximately 121.6 million shares outstanding.    - Reid Kanaley
NEWS
June 22, 2000 | YONG KIM/ DAILY NEWS
A yellow cloud of gritty material from the Sunoco oil refinery blankets South Philadelphia last night. It caused burning eyes and coughing, but company officials said the dust from the 3 p.m. venting posed no threat to residents.
BUSINESS
April 17, 2009 | By Harold Brubaker INQUIRER STAFF WRITER
Sunoco Inc. said yesterday that it was selling its Tulsa, Okla., oil refinery to Holly Corp. for $65 million. The Tulsa refinery, with the capacity to process 85,000 barrels of crude oil a day, is the smallest of Sunoco's five refineries, which include three in the Philadelphia area. The deal is expected to close June 1, pending regulatory approvals, Philadelphia-based Sunoco said. The sale comes at a time when some analysts expect refiners to close some of the smaller U.S. refineries because demand for gasoline and other refined products is down.
BUSINESS
January 23, 2004 | By Harold Brubaker INQUIRER STAFF WRITER
Lower-than-expected profit margins in refining and a 25-day maintenance shutdown at its South Philadelphia refinery caused Sunoco Inc.'s fourth-quarter refining profit to fall by more than half, to $20 million from $48 million, the company reported yesterday. On the news, the Philadelphia company's shares gave back little of the more than $20 they had gained since August, falling 1 percent, to $56.07. Shares in independent petroleum refiners are at a cyclical peak, with many analysts seeing them headed into a period of strong profit because of, among other factors, clean-fuel regulations that tighten supply.
BUSINESS
February 27, 2009 | By Jeff Gelles INQUIRER STAFF WRITER
As Sunday's expiration of their contract with Sunoco Inc. nears, workers at the company's Philadelphia and Marcus Hook refineries yesterday stepped up efforts to protest staffing cutbacks they say will endanger workers and nearby neighborhoods. Several hundred refinery workers rallied outside Philadelphia's City Hall, then marched to Sunoco's headquarters. Union officials said they presented petitions against the cutbacks signed by about 2,000 people who live near the refineries.
SPORTS
July 10, 2008 | By BILL FLEISCHMAN For the Daily News
Think it's a snap supplying racing fuel to NASCAR's teams? For Philadelphia-based Sunoco, now in its fourth year as NASCAR's official fuel, it takes extensive planning. "Our planning begins months ahead of the event," Thomas Golembeski, Sunoco's manager of media and public relations, said this week. "Once the fuel gets onto the dedicated fleet of Sunoco tankers, there's a strict chain of custody from the moment the fuel leaves the plant until it arrives at the track. "There are about 100 people on regional crews that oversee that process.
BUSINESS
June 29, 1999 | By Joseph N. DiStefano, INQUIRER STAFF WRITER
Sunoco is urging summer travelers to get "pumped up. " But investors in the century-old Philadelphia petroleum processor haven't had a lot to celebrate lately. The U.S. oil refining and marketing industry is in a funk. Gasoline prices have been rising more slowly than crude oil costs, and that squeezes gas merchants such as Sunoco. This is, as chairman Robert H. Campbell puts it, "a tough, dog-eat-dog business. " At a Philadelphia Securities Association luncheon last week, he admitted Sunoco won't meet its 15 percent earnings-growth target this year.
NEWS
May 10, 2009 | By Lini S. Kadaba INQUIRER STAFF WRITER
Workers spent much of yesterday cleaning up a gasoline leak at a Sunoco storage facility in Upper Chichester that has affected aquatic life in a tributary to Marcus Hook Creek, a spokesman for the state Department of Environmental Protection said. A witness driving by the scene at 11:30 p.m. Friday noticed a "geyser of gasoline" gushing from the Sunoco pump station on Route 322 in Twin Oaks and notified authorities, DEP spokesman Dennis Harney said. He said officials estimated that thousands of gallons of gasoline had spilled.
NEWS
January 18, 2012
Sunoco Inc., distributed 56.7 million shares of SunCoke Energy Inc. to its shareholders, completing the spin-off of its metallurgical coke subsidiary. Sunoco no longer owns any shares of SunCoke. Sunoco shareholders received 0.53046456 share of SunCoke common stock; each fractional share was worth $6.82 at the market close on Wednesday. Sunoco shares closed Wednesday at $37.07. That means the value of a Sunoco shareholder's investment in the two companies increased about 3.7 percent in trading Wednesday on the New York Stock Exchange.
NEWS
March 15, 2012 | By Andrew Maykuth, INQUIRER STAFF WRITER
The new chief executive of Sunoco Inc. is going on a charm offensive to counter some of the hard feelings the company has generated over its decision to exit the refining business. Brian P. MacDonald, who was promoted March 1 from chief financial officer to chief executive, has maintained a full schedule of meetings with public officials and community leaders to explain Sunoco's move to close or sell its Philadelphia and Marcus Hook refineries. "We're reaching out to people and telling our story about what we're doing and why," MacDonald said in an interview ahead of a meeting Thursday morning with the executive committee of the Greater Philadelphia Chamber of Commerce.
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NEWS
November 12, 2014 | By Andrew Maykuth, Inquirer Staff Writer
  Sunoco Logistics Partners L.P., the Philadelphia energy company, said that all recoverable crude oil has been removed after its Mid-Valley Pipeline ruptured and spilled on Oct. 13 in Northwest Louisiana. Sunoco spokesman Jeffrey P. Shields said the company recovered about 4,100 of an estimated 4,500 barrels of spilled oil. Some oil was unrecoverable due to evaporation and dispersion. About 20 workers will remain on site to monitor the area, he said. The spill polluted about four miles of a creek feeding Caddo Lake, and prompted the evacuation of three homes.
BUSINESS
October 28, 2014 | By Andrew Maykuth, Inquirer Staff Writer
Sunoco Logistics Partners L.P., the Philadelphia energy company, said it resumed deliveries of crude oil Sunday on its Mid-Valley Pipeline, which shut down Oct. 13 following a rupture and spill in Northwest Louisiana. Sunoco spokesman Jeffrey P. Shields said the repaired pipeline was operating at 80 percent of maximum operating pressure under orders of the federal Pipeline and Hazardous Materials Safety Administration. The pipeline delivers crude oil from Texas to Midwestern refineries and terminates near Detroit.
BUSINESS
October 28, 2014 | By Andrew Maykuth, Inquirer Staff Writer
Sunoco and its iconic ticker symbol SUN reappeared Monday on the New York Stock Exchange after a two-year absence. This time it comes with a Texas accent. Sunoco L.P. is the new name adopted by Susser Petroleum Partners L.P., a Texas company acquired recently by Sunoco's parent, Energy Transfer Partners L.P. The new incarnation of Sunoco will become the repository for ETP's growing fuel-distribution system and far-flung portfolio of convenience stores. "We are proud to reintroduce the SUN ticker symbol, which traded on the New York Stock Exchange for almost 87 years until the sale of Sunoco Inc. in 2012 to our parent company, Energy Transfer Partners L.P.," said Bob Owens, Sunoco L.P. chief executive.
BUSINESS
October 17, 2014 | By Andrew Maykuth, Inquirer Staff Writer
A Louisiana oil spill is adding to anxiety for Pennsylvania residents who live near the Mariner East pipeline connecting the Marcellus Shale to Marcus Hook. Sunoco Logistics Partners L.P. of Philadelphia on Tuesday supervised cleanup operations in Northwest Louisiana after its Mid-Valley pipeline on Monday leaked thousands of gallons of crude oil into a creek that feeds Lake Caddo, near Shreveport. Monday's incident was the second major spill along the 65-year-old Mid-Valley pipeline this year.
BUSINESS
October 4, 2014 | By Linda Loyd, Inquirer Staff Writer
Sunoco Logistics Partners and its proposed Marcellus Shale Mariner East project have public utility status, the Pennsylvania Public Utility Commission ruled Thursday. The decision was a victory for Sunoco, which is repurposing a petroleum pipeline to transport Marcellus Shale ethane and propane to Marcus Hook. The commission noted that Sunoco's pipeline routes and services have been certificated as public utilities since the early 1930s. "Sunoco's amended petitions adequately plead sufficient facts for the commission to find that it is both a 'public utility' and a 'public utility corporation,' " said PUC vice chairman John F. Coleman Jr. and commissioner Pamela A. Witmer in a joint motion approved 4-1 by the commission.
BUSINESS
September 28, 2014 | By Andrew Maykuth, Inquirer Staff Writer
Sunoco's storied name, absent from the New York Stock Exchange since the Philadelphia company was acquired by a Dallas energy firm in 2012, will return to the Big Board this year. Energy Transfer Partners L.P. (ETP), a Dallas pipeline company that became Sunoco Inc.'s parent company two years ago, announced Thursday night that it will give its recently acquired Texas convenience-store company, Susser Petroleum Partners, a new name that is kind of an old one - Sunoco L.P. The new Sunoco L.P., which will trade under the ticker symbol SUN, will eventually become the corporate umbrella for ETP's growing portfolio of fuel stations and convenience stores, including Sunoco Inc. ETP had said it intended to drop its retail assets into the Susser partnership when it announced the $1.8 billion acquisition in April.
BUSINESS
August 23, 2014 | By Andrew Maykuth, Inquirer Staff Writer
Despite an adverse advisory opinion that its Mariner East pipeline does not qualify as a public utility, Sunoco Logistics Partners is plowing ahead with plans to develop the Marcellus Shale project. The Philadelphia company, in a filing this week, urged the Pennsylvania Public Utility Commission to reject a recommendation from two PUC administrative law judges that its Marcellus pipeline is not a public utility. The company, which is repurposing a petroleum pipeline to transport Marcellus Shale ethane and propane to Marcus Hook, said the judges' recommendation in July was "clearly erroneous" and misinterprets previous court and PUC rulings.
BUSINESS
August 10, 2014 | By Andrew Maykuth, Inquirer Staff Writer
Another European firm has signed a deal to buy Marcellus Shale gas liquids, advancing plans to build a second Pennsylvania pipeline to supply an export terminal in Marcus Hook. The Austrian petrochemical company Borealis said Thursday it had signed a 10-year contract to buy ethane produced from the Marcellus and Utica Shale formations. The liquid, a raw material in plastics production, would be piped across Pennsylvania and loaded onto ships bound for Sweden at a Sunoco Logistics Partners terminal in Marcus Hook.
BUSINESS
July 7, 2014 | By Andrew Maykuth, Inquirer Staff Writer
Sunoco's good corporate name is taking a beating these days, as community activists and bloggers post snarky statements under headlines like "Sleazy Sunoco," linking the company to fracking and eminent domain. The trouble for Sunoco Inc., the Philadelphia company with nearly 4,900 retail fuel stations and convenience stores in 23 states, is that it has nothing to do with the cross-state pipeline project that has attracted fierce local opposition and has become embroiled in a contentious matter before the Pennsylvania Public Utility Commission.
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